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DAX edges lower in the first hour of trading as ZEW index awaits

As already mentioned, at 9am GMT we will get the release of the latest German ZEW economic sentiment index. This is expected to show an improvement from the last reading. The markets expect the ZEW to rise to around 50, from 47.1. Current conditions are also expected to improve to around -65 from -72.3. Earlier this morning the DAX did reopen higher, commencing live trade effectively close to 18,200 (forget the book entry opening at 18,073). The index then set a high so far at 18,214. It has since backed away from that high though, as the CAC 40 tracks lower, towards 7,575. The impact of the French stock market price action is clearly still leading the DAX and that might be the case, even after the ZEW data hits the screens. So, right now the DAX is tracking back towards the 18,100 handle and it remains to be seen, what impact the ZEW might have in just around an hour from now. The DAX is currently trading at 18,120
 

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